One of the goals of Nifty Thrifty Dentists is to help you grow the practice of your dreams so that you can practice dentistry on your terms and still have the time and resources to spend with your family.
We have focused on saving money the Nifty Thrifty way, training our staff, and getting the marketing right. So now what? You may have filled your schedule and chairs with patients but all of that means nothing if the patients are not able to pay for the treatment they need!
You have gone this far in getting your practice on the right track, don’t let that plan go to waste by not covering the patient financing aspect.
Treatment acceptance is comprised of many factors. You have treatment that must be diagnosed (i.e. you need patients). But once you have the patient, you need to have the patient motivated to complete the treatment. The patient may be gung ho about completing treatment but if he/she turns pale when your staff presents the fee for the treatment plan, the good intentions mean nothing. You need to be able to help the patient meet their financing needs. You have worked on these first two factors, now Compassionate Finance is available to help with the third factor.
With the MLB post season starting soon, I’ll go back to my baseball analogy and describe how Compassionate Finance works in the dental line up. Just as a pitcher has several different pitches that he has and uses based on the opponent, think of Compassionate Finance as a tool available for your staff to use in helping patients pay for dental treatment. Each patient may have different financing issues which require different approaches when it comes to a solution. Make sure that you equip your staff with as many tool as possible so that they can meet almost every possible scenario.
Compassionate Finance is not a lender like Care Credit but rather, they work with you to help set up payment plans for your patients. Think of them as an extension of your team as they have a team that will work with your patients when it comes to payments, shuffling around payment dates, and anything else to help facilitate timely payments to your practice.
It’s a great addition to your finance offerings as it gives flexibility to patients who, due to an unfortunate circumstance, may not have the best credit scores yet have shown an ability to make monthly payments.
Listen in to my chat with Steven Incontrera of Compassionate Finance to learn more about how they can help your patients get the financing they need to complete much needed dental treatment!
Find out about:
- Importance of “closing the deal” by having different financing options for patients.
- How Compassionate Finance works.
- How their operations will be like an extension of your team.
- Setting interest rates based on risk can be a lucrative revenue generator.
- Capturing the market for patients who cannot qualify for traditional financing opens up a huge untapped patient base.